LONDON, Feb. 21 (Xinhua) -- Britain witnessed in February its fastest manufacturing output growth in 10 months, according to a flash Purchasing Managers Index (PMI) reading issued on Friday by IHS Markit/CIPS, two Britain-based information providers.
Flash UK manufacturing PMI was 51.9, up from 50.0 in January, reaching a 10-month high, said the report.
Figures revealed that flash manufacturing output index was 52.8 in February, higher than January's final reading of 50.1, hitting a 10-month high.
The latest reading pointed to the joint-fastest expansion of private sector output since September 2018, the same as the statistics recorded in January 2020, said the report.
Flash UK composite output index stayed unchanged at 53.3 in February while UK services business activity index went down from 53.9 in January to 53.3 in February, reaching a two-month low.
Tim Moore, associate director at IHS Markit, said: "The recent return to growth signaled by the manufacturing and services PMIs provides a clear indication that the UK economy is no longer flat on its back, with our GDP nowcast pointing to 0.2 percent growth through the first quarter of the year."
Duncan Brock, group director at CIPS, said: "As more immediate political instability receded into the background, the combined sectors delivered a healthy return in February with the joint-strongest performance since September 2018."
Brock noted that even against the backdrop of extreme events, "optimism remained high, especially amongst service providers," adding that "service providers were still confident enough to raise prices for customers, possibly making up for lost time over Brexit uncertainty and reduced consumer spending."
